In a year when expectations were rock bottom, the Hong Kong International Diamond, Gem & Pearl Show turned out to be surprisingly strong for loose-stone dealers. 🚨
Even with China’s diamond demand still in crisis, global buyers from Southeast Asia, Europe, the Middle East, and India showed up ready to talk—and in some cases, ready to buy.
💬 Dealer Mood: “Way Better Than Expected”
“I came here expecting nothing. I’m very surprised,” said Philippe Barsamian (Barsamian Diamonds, Antwerp).
While Chinese demand stayed soft, recent shortages from global mining cutbacks helped prop up prices and sentiment. Exhibitors noted strong demand in:
🔹 5–20ct rounds and fancy shapes
D–G color, IF–VS2 clarity
- 🔹 Melee and 1ct+ stones, especially those with triple-Ex grading
🔹 Clean, no-fluorescence stones still top picks
- ⚠️ China Still Struggling
Chinese buyers were present, but in far fewer numbers
- Retailers have closed stores and returned goods over the last 2 years
- Trust in diamonds as an investment has dipped 📉
- Recent Trump-era-style tariffs and cash transaction restrictions aren’t helping
Still, some encouraging signs emerged.
“Last year we had zero appointments. This year—just a few, but they’re starting to check again,” said Akshay Shah (Dharmanandan).
🌏 Southeast Asia & Global Buyers Step In
Buyers from Thailand, Malaysia, Vietnam, and more filled the gap, hunting high-spec stones.
Demand for 2ct+ and 5ct+ stones rose, thanks to rough shortages
Prices stayed firm despite hopes for deals
- “No one’s discounting because of high rough costs,” dealers said
💹 Market Metrics:
RAPI Index stabilized for 0.5, 1, 3ct stones
- 🔺 0.3ct stones up 3.7%
Rough prices jumped 5% in Antwerp & Dubai tenders
🔮 What's Next?
While China’s recovery is still a slow climb, some dealers remain optimistic.
“It’s not booming, but sentiment is better,” said Lawrence Ma (Diamond Federation HK).
“It’s like Chinese medicine—it takes longer, but it works.”
Hong Kong’s finished jewelry show continues through the weekend, with 4,000+ exhibitors, 70% from outside HK, according to the HKTDC.
TL;DR:
Global buyers brought life to the show ✅
- China still in recovery mode 😬
- Shortages & stable prices kept dealers busy 💸
- The diamond market may be down—but it’s not out 💪